DMP & Mutual Support Thread - Part 8

Hopelessly_Hopeful

Tigsmom wrote: »

I remember a while back someone asking how to budget for the dreaded 5th week of groceries. Well up until now I have just used the budget on the first 4 and then tried to use what's in the cupboard for the 5th (we eat a lot of pasta that week!). Now I'm trying to perfect my budget I have realised that if you take your monthly budget, times it by 12 and then divide by 52 you will get the actual amount that you should spend each week. Mine does vary as some weeks I need wash powder, loo roll etc but not others, but at least it is a goal to aim for.

That's correct.

Not sure if you saw a post I did a wee while ago.... worth having some short term pain to get more for your money overall. Eg pasta week first week of the month can keep you going knowing the treat is coming later etc. Pasta week frees up X amount so you can make the most of washing powder offer. End sum is that if you buy things in the right amount at the right time you will reduce your overall annual spend if that makes sense?

Also decent menu planning means no difficult menu week, just a few leaner days spaced here and there so you don't feel too deprived. Psychologically I am happier eating the pasta etc if I know I have x amount in reserve if I really need it rather than knowing there is just 27p in the purse etc

Sounds like you are really getting to grips with it. I think most of us even 2 years in still see effective budgetting as a constant challenge ..... but not an impossibility!

HHx

Tigsmom

bertman wrote: »

Our first statement has arrived, quite a good feeling to see that the creditors have at last been paid, for 2 months we have just sent over £1 token payments. The phones have been very quiet which was the main thing i was dreading, I am looking forward to seeing the latest statements now from the companies so I can update my sheets etc.

Have a good weekend everyone.

A very happy Bertman!!

Thanks Bertman. That's good news. I'm looking forward to that feeling next month (8 days to our first CCCS payment :j). Our phone too has gone very quiet so I'm guessing that means the penny has dropped with our creditors. Let me know if you get your statements. I've not had any for months apart from HSBC so I have a feeling I might have to chase them up. Does anyone know if the automated telephone balance still works when youre on a dmp?

Time_to_face_the_music

bertman wrote: »

Our first statement has arrived, quite a good feeling to see that the creditors have at last been paid, for 2 months we have just sent over £1 token payments. The phones have been very quiet which was the main thing i was dreading, I am looking forward to seeing the latest statements now from the companies so I can update my sheets etc.

Have a good weekend everyone.

A very happy Bertman!!

Great news Bertman :j

Well done on being truly up and running :T

Tigsmom

Hopelessly_Hopeful wrote: »

Sounds like you are really getting to grips with it. I think most of us even 2 years in still see effective budgetting as a constant challenge ..... but not an impossibility!

HHx

:rotfl:You think so? I feel like my head is about to explode with figures! Throw menu planning in and I'll go into meltdown!:rotfl:

I think maybe I'm just sweating because it's our first dmp payment next week and I'm terrified we won't have enough, or enough left over once all the dd's have gone out. That coupled with MOT and ds birthday, it's not the best start! I'm hoping next month will be better and the kids will be back at school so less treats.

I've got half a bottle of wine left in the fridge (present from an understanding friend ). This weekend may be the time to finish it and relax a bit! (and get some stuff on ebay because it's free listing weekend!)

Growurown

Hopelessly_Hopeful wrote: »

I was a rebel and updated 6 hours early.

Victory of sorts with BC, my complaint was investigated, 2 months interest reinstated and £50 for inconvenience, interest zero again for now.

Fab news but I had to update my spreadsheets and projections, chore.......:)

HHx

Good result HH on getting the interest stopped and some money back. Shows that complaining is worth doing.

Hmm projections.......haven't done a spreadsheet for those:rotfl:

I am going to do one though:D

Growurown

Hopelessly_Hopeful wrote: »

Hi

If your food shop is £40 and your budget is £38 then the variance is £2 to find

If your fuel bill is £70 and your budget is £80 you have £10 in credit over.

£10 - £2 means you are still £8 in credit for that month, phew

Use same principle over time to see if the individual items eg fuel and food budgets are set at the right level. If variance is over then a) change behaviour to keep in budget or b)increase budget in that particular area. Just helps to keep on track

Hope that helps. Personally any number crunching helps to keep me in control and focussed on the goal.

HHx

I see thank you. Actually I am already doing this sort of. I have my spreadsheet set up to show what I am over or under spending in each of my budget headings. I consistently overspend on food. I am hoping this will improve when Aldi opens and I can wave goodbye to Waitrose. Sorry Waitrose cos you are a lovely shop with lots of lovely food but beggars can't be choosers:rotfl:

Hunnies

Hi Everyone,

Still reading this thread every day and loving the positivity from everyone.

Our first payment goes to CCCS on 1st September so I'm looking forward to that getting under way. We've had letters this week from 3 of our 13 creditor's and all three have accepted the CCCS payments and frozen all interest and charges! They were Lloyds for both of our credit cards and Virgin (MBNA) for a credit card. Lets hope the remaining 10 creditor's are just as nice.

Finding it odd that we haven't had a single phone call or stroppy letter yet, maybe it's because we never missed payments and last month they all (except one) got their minimum payments, only one got a token payment.

I've realised that my husband is more worried about debt collector's coming to the house than I thought. Don't get me wrong, the thought TERRIFIES me but I've not told him that. This morning there was a man in a suit sitting in his car outside our little row of 4 houses and the hubby took one look at the car and asked if I thought it was a debt collector. I said of course not, we've not missed any payments and anyway they would write first to say the debt had been sold on etc etc. Am I right? Turns out he was putting up a for sale sign at one of our neighbours houses. How likely is it that we will get debt collector's if we don't miss any payments? Or, can they still come if they buy the debt off an original creditor but we still pay them, might they turn up to put pressure on us to pay more or to pay in full? My worst nightmare would be for someone to come round while we had friends or family round, no-one knows we've started a DMP and I would hate for anyone to find out.

What are your experiences?

talisker78

Two creditors have agreed to cease all interest and charges - one being the worst one who I was paying £110 a month and getting £107 in interest. Means I will actually start taking off more than £3 a month for the first time in years!

Thats the good news....

My OH had some concerns with the car this morning. I bit the bullet and said just get it into the garage. Thankfully we have a reputable one close by.

Turns out her brake pads and discs had completely gone! She didn't get much warning...£124 all in. Its not too bad, just a pain this month when I'm adjusting to the DMP.

Looks like I will be having a late night on eBay!

I'm doing a nearly new sale this month but not until 22nd September.

any other ideas for making a little bit of money quickly (legal please!! :rotfl:)

Growurown

Tigsmom wrote: »

I'm hoping one of you 'geeks' can help me. What do you use to do your spreadsheets? I've got excel but is there a template or software I can get to make it easier? At the moment I'm copying the budget list I did for CCCS and am changing the amounts to whatever I spend that month. It's not really working though because I'm completing it after we've spent it instead of being able to see what's left to spend. I'm hopeless at this!

I use excel too. I have a spreadsheet with all my direct debits and standing orders and check online with the bank to see what has been paid, add up what is left to go out that month so I know how much is left over for spending. I have another bank account that I pay monthly by standing order to cover the cost of things like the car tax and servicing to make sure I don't spend any money that I should be putting by.

I have a monthly spreadsheet for everything I spend. I use a new worksheet for every month. Along the top I have a column for each of my outgoings as listed on my CCCS budget. Then I download my bank statement and cut and paste that into the rows on the left. Then I go through each payment going out of the bank and type it into the correct column. Sounds a bit labour intensive but once set up it doesn't take long at all to fill it in especially if you do it regularly and make good use of the copy and paste. That way I can keep a running total of what I am spending especially in the food and petrol columns to see if I am going over budget.

It gets difficult though like you say when payments are waiting to go through. It's doubley difficult when OH spends money and doesn't tell me! That's why I am thinking of drawing out the 'spending' cash weekly and banning all use of the card.:rotfl:

Growurown

Hunnies wrote: »

I've realised that my husband is more worried about debt collector's coming to the house than I thought.

How likely is it that we will get debt collector's if we don't miss any payments? Or, can they still come if they buy the debt off an original creditor but we still pay them, might they turn up to put pressure on us to pay more or to pay in full? My worst nightmare would be for someone to come round while we had friends or family round, no-one knows we've started a DMP and I would hate for anyone to find out.

What are your experiences?

They won't come round. You are a long way off from that happening and it won't happen as long as you keep up with your payments. Five of my debts have now been passed over to a DCA. They have all accepted the amounts I had been paying to the original creditor, and on the whole have been OK to deal with apart from one snotty woman I spoke to at Blair, Oliver and Scott. I guess sometimes they might put the pressure on but just keep repeating the mantra 'I am on a DMP with CCCS and my number is .....'

One creditor tried it on with me and I told him I couldn't pay him more as it was unfair to the other creditors on my DMP. He backed down then. They play on your fear and hope you don't know how things work. However we know better:D